After 13 weeks, inflation turns positive at 0.12 percent
By IANSThursday, September 17, 2009
NEW DELHI - After remaining in negative zone for 13 consecutive weeks, India’s annual rate of inflation was back to positive at 0.12 percent for the week ended Sep 5, a rise from minus 0.12 percent the week before, according to official data released Thursday.
The rate turned negative for the week ended June 6 for the first time since the new wholesale price index (WPI) series started in 1995. The inflation rate had also turned negative in 1977.
Negative inflation implies that the average wholesale price level was lower during a given week than it was in the corresponding week a year ago. It does not necessarily reflect retail prices.
The price indices for primary articles, manufacturing products and fuel, power, light and lubricants rose for the week ended Sep 5.
The index for primary articles rose 1.3 percent to 274.7 (provisional) from 271.2 (provisional) the week before. Similarly the index for manufactured products also rose 0.1 percent to 208.1 (provisional) from 207.9 (provisional).
The price index for fuel, power, light & lubricants also rose marginally to 343.4 (provisional) from 343.3 (provisional) for the previous week due to higher prices of bitumen (9 percent), furnace oil and light diesel oil (4 percent each) and aviation turbine fuel (2 percent). However, the price of naphtha declined 7 percent.
